Megaworld, the Andrew Tan-led property giant, is developing a modern
financial center inside the 72-hectare Iloilo Business Park, with
several banks and companies already set to build regional headquarters
in the district, a ranking official said over the weekend.Jennifer Palmares-Fong, head of marketing of Iloilo Business Park,
said interest has been strong, with commercial lots almost sold out.“There has been a strong interest from various sectors, particularly
financial and banking, to establish their businesses in Iloilo Business
Park. Since we announced the township being envisioned as Iloilo City’s
new central business district or CBD, everyone wants their presence
here,” she said.Megaworld has allocated nine hectares of the entire township for the commercial district.It started selling the lots at P47,000 per square meter in 2013.
Today, the lots, which range from 611sqm to 1,735 sqm, are now sold at
P70,000 or a 49 percent increase from its original price a couple of
years ago, according to Megaworld.Eighty percent of the lands have already been sold to banks and
financial institutions as well as local enterprises but Palmares-Fong
said the lots are also viable for hotels.Among the major banks that are set to establish their regional
headquarters and offices in Iloilo Business Park’s financial district
include the George Ty-owned Metrobank and the Aboitiz Group’s Unionbank.“Aside from banks and financial institutions, other commercial
businesses like car and furniture showrooms as well as regional
headquarters of corporations are welcome to the financial district of
Iloilo Business Park,” she said.Megaworld is developing the commercial district, which will rise
toward the southern part of the township near the iconic Iloilo River. It is envisioned to be one of the busiest districts in the Iloilo
Business Park once completed. It will be directly connected to the
township center via the six-lane Megaworld Boulevard.Megaworld’s Iloilo Business Park, occupying 72-hectares on the former
site of the Old Mandurriao Airport, is envisioned to be the biggest
business, lifestyle and tourism hub in Western Visayas.Aside from the financial and commercial district, Iloilo Business
Park will be home to two business hotels – Richmonde Hotel Iloilo and
Courtyard by Marriott. The Iloilo Convention Center, which will be the largest convention
facility in Region VI, will also be part of the business park as well as
state-of-the-art BPO office towers, luxury residential condominiums
including The Palladium, the tallest residential tower in Western
Visayas, and the Festive Walk Mall. In addition to this, Megaworld is also developing The Street of
Festive Walk, a 1.1-kilometer commercial and retail strip, which will be
the longest dining and retail strip in the entire Western Visayas
region. The property giant has lined up several projects for the year in
Luzon and Visayas including the development of residential projects in
the Makati Central Business District, office buildings in Fort Bonifacio
in Taguig and its township projects.
http://www.philstar.com/business/2015/08/03/1483783/megaworld-develop-modern-financial-center-iloilo
Megaworld to develop modern financial center in Iloilo
by Iris C. Gonzales (The Philippine Star)
